Corporate entity behind innovative bit storage solution secures over $1.5 million in private investments in exchange for 17-percent of its stock in Standby Equity Distribution Agreements.
Cream Ridge, NJ, May 10, 2016 (Newswire.com) - In an announcement that seems to suggest “it’s all about Bit-Click Generation II,” the Bit-Click company – the innovators behind the ingenious solution for storing impact, driver and drill bits in one central location – is boasting impressive statistical numbers regarding growth, investment interests and purchase orders.
This includes Bit-Click securing over $1.5 million in private investments, the Generation II product completing its first run and distribution of 25,000 orders, online growth ballooning to just over 5000-percent compared to the month of March and online integration rising more than 20,000-percent compared to the beginning of the year.
Starting with its investment news, Bit-Click has secured over $1.5 million in private investments in exchange for 17-percent in Standby Equity Distribution Agreements; in corporate finance, a SEDA is a type of share allocation agreement between a company and a share purchaser and a form of private placement. “A SEDA offers a relatively flexible way of raising capital, allowing companies to further customize their approach to capital and risk management,” explains Michael Di Monte, inventor of Bit-Click. “In a sense, SEDA is similar to a line of credit extended by a lender, except that the financing is done through equity.”
Bit-Click also completed its first run of the Generation II product, shipping some 25,000 purchase orders to anxiously-waiting customers despite minor setbacks regarding the photo-luminescent material, which was handled quickly and expertly by Bit-Click representatives. “The slight manufacturing error was immediately resolved, and we have added an additional quality control measure that tests the parts immediately after production and prior to packaging and shipping,” adds Di Monte. “We ensured customers that this wouldn’t happen again, and we have since heard from wholesale chain and retail representatives who have been extremely satisfied with the Bit-Click Generation II, as well as with the way we handled the ‘glow-in-the-dark mishap.’”
In additional Bit-Click news, the company’s online growth has risen just over 5000-percent compared to the month of March – a substantial number compared to many other tool-making entities, according to Bit-Click reps – while online integration has risen more than a whopping 20,000-percent compared to the beginning of the year. Bit-Click is also in the midst of positioning itself in the industry as an asymmetrical organization, and within the next month majority shareholder Mike Di Monte will elect and appoint additional board members to commence and continue the quarterly financials to the company’s shareholders, while beginning the process of SEC filings.
“Under the Securities Act of 1933, a company that offers or sells its securities must register the securities with the SEC or find an exemption from the registration requirements,” concludes Di Monte. “The Act provides companies with a number of exemptions, and for some of them a company may sell its securities to what are known as ‘accredited investors,’ defined in Rule 501 of Regulation D.
"But regardless of these specifics, Bit-Click Generation II continues to make life easier for the user by offering a system in which bits are easily inserted and removed from our unique In-Tite slots, thus keeping them totally secure, while adding the convenience of 18 drill driver bit capacity to increase productivity.”
Bit-Click can be reached by emailing contact@bit-click.com. For more information visit www.Bit-Click.com.
For more information and to receive a Media Pack containing various high-res images for publication, please contact below.
Bit-Click
PO Box 274
Cream Ridge
NJ 08514
United States
Email: contact@bit-click.com
Photos and Media Pack: High-res images available on request.
Source: http://info.bit-click.com/bit-click-generation-ii-stumbles-as-co
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